No ordinance of any municipality granting a terminable permit shall become effective until a proposition to approve the ordinance has been submitted to the electors of the municipality and has been approved by a majority of the electors voting upon the proposition. Every such ordinance shall order such submission and shall designate the election at which the proposition is to be submitted. The municipal clerk shall promptly certify such proposition for submission.
     The proposition need not include the ordinance in full but shall indicate the nature of the ordinance, and shall be substantially in the following form:
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    Shall the ordinance passed by the
city council (or board of trustees)
of (name of municipality) on (insert           YES
date), entitled …., which
granted a terminable permit to (here        ——————
insert the name of the grantee) to
construct, maintain, and operate a              NO
transportation system upon the terms and
conditions therein stated, be approved?
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